IRS adjusts Pub. 1494 levy amounts for head of households

The IRS has adjusted the amounts exempt from levy for head of households contained in IRS Pub 1494. The amount for daily with three exemptions is now $171.11. The amounts for weekly with 2, 3, 4, and 5 exemptions are: $505.77, $585.58, $665.39, and $745.20, respectively. In addition, for married filing jointly, daily, with 2 exemptions, the amount is $124.23 and the amount for more than 5 exemptions is $92.31 plus $15.96 for each dependent. The publication is reproduced in this Report Letter on page 7. (IRS Pub. 1494, Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income (Forms 668-W(ACS), 668-W(c)(DO) and 668-W(ICS)), (08-2018).)

Visit our News Library to read more news stories.